In July 2024, exports and imports of goods recorded nominal year-on-year rates of change of, respectively, +23.5% and +15.5% (-4.1% and -6.2%, in the same order, in June 2024). These variations reflect, to a large extent, some transactions with a view to or following processing (without a change of ownership). In July, these transactions accounted for 13.9% of exports and 3.8% of imports. Excluding these transactions, exports increased by 8.6% and imports by 12.1%.

In July 2024, compared to the same month of the previous year, exports and imports of Industrial supplies (+59.5% and +19.7%, respectively) and of Fuels and lubricants (+58.2% and +43.1%, respectively) stood out. 

Excluding Fuels and lubricants, there were increases of 21.6% in exports and 12.5% in imports in July 2024 (-4.9% and -4.2%, respectively, in June 2024).

In July 2024, the unit value indices (prices) for exports recorded its first positive change since May 2023, +0.5%, while imports continued to record a negative change, -2.1% (-0.3% and -2.8%, respectively, in June 2024; -4.6% and -9.1% in July 2023). Excluding petroleum products, there was a null change in exports and a decrease of 3.6% in imports (-1.1% and -3.6%, respectively, in June 2024; -0.4% and -3.5% in July 2023).

The deficit of the trade balance amounted to EUR 2,085 million in July 2024, corresponding to a decrease of EUR 168 million vis-à-vis the same month in 2023. Excluding Fuels and lubricants, the deficit decreased by EUR 334 million, amounting to EUR 1,414 million.

In the quarter ended in July of 2024, year-on-year, exports and imports increased by, respectively, 5.8% and 1.8% (+2.7% and +1.1%, in the same order, in the 2nd quarter 2024).